JBG Snaps up DC's Largest Hotel

WASHINGTON, DC-A partnership involving an affiliate of the JBG Cos. LLC and CIM Group has acquired what is widely known as the largest hotel property in the Nation’s Capital, the 1,334 Marriott Wardman Park Hotel. Seller Thayer Lodging Group had owned the 107-year-old facility since purchasing it in early 1999 for just a tad over $136 million.

All parties involved in the transaction–including Thayer’s representative in the deal, Eastdil Property Co.–are remaining tight-lipped about the purchase price. However, the hotel and the 16-acre property it occupies are currently assessed at a value of $244.3 million. The property will undergo a $50 million renovation, but will continue to carry the Marriott flag.

With the address of 2660 Woodley Rd. NW, Marriott Wardman Park is just a short walk from the National Zoo in DC’s mostly residential neighborhood of Woodley Park. The hotel has been expanded over the years, and currently encompasses the 202-room Wardman Tower, the 933-room Center Tower and the 199-room Park Tower, as well as 173,000 sf of meeting space.